1:25 pm - 03/15/2019

[BREAKING] CEO of Yuri Holdings resigns from position

On March 15, a source with a high rank at Yuri Holdings revealed, “We recently held an emergency board meeting and appointed Ahn Hyo Yoon, a former consulting specialist from outside [the company], as our new CEO. As a management specialist, he will give the company a fresh start.”

As a result, Yoo In Suk, who previously held the management rights of the company, has naturally resigned from his position. Regarding the former CEO undergoing questioning at the police station, the source said, “We do not now much about his personal matters. He’s been feeling a lot of pressure about work at the company ever since he got caught up in such disgraceful incidents and had to go through the police investigation.”

Yuri Holdings was founded by Seungri and Yoo In Suk in 2016 to operate several businesses in the food and entertainment sectors, which includes the controversial club Burning Sun.

The allegations against Yoo In Suk were first made on February 26, when SBS funE released text messages that were allegedly exchanged between him, Seungri, and an employee. The messages feature the three discussing providing sexual escort services to foreign investors, but the company denied the claims by saying that the messages were fabricated.

However, a new report on March 11 stated that hidden camera videos and photos were shared in a chatroom including Yoo In Suk, Seungri, and six other individuals. It was further revealed that one of the participants was Jung Joon Young, who later admitted to crimes and thus confirmed the existence of the chatroom.

Along with Seungri and Jung Joon Young, Yoo In Suk also arrived at the police station on March 14 around 12:50 p.m. KST to undergo questioning for allegations of providing prostitution services for business investors. He completed his investigation around 6 a.m. KST the following day.

Source: Naver via Soompi
daynr 15th-Mar-2019 06:00 am (UTC)
Do we know if this is a closely held corp? Are Seungri & Yoo going to divest their ownership if significant enough to give them s/h control? I
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